The Veterinary Artificial Insemination Market is expected to register a CAGR of around 4.9% during the forecast period. The growing animal and fishery industry and increasing burden of sexually transmitted diseases are some of the factors that are fuelling the market growth. Artificial inseminations are likely to reduce many of the transmitted diseases. It allows greater efficiency in terms of genetics in animals and allows cross-breeding of species. Furthermore, according to the Food and Agriculture Organization of the United Nations, almost 50% of the world’s population consumes fish as food. Also, around 580 aquatic fishes are currently being produced across the world. This is driving the need for larger production of animals, and thereby, expected to boost the demand for veterinary artificial insemination.
Key Market Trends
The Veterinary Hospital Segment is Expected to Gain a Significant Market Share in the Veterinary Artificial Insemination Market
The Veterinary Hospital Segment is expected to witness a significant growth in this market, owing to higher prevalences of transmitting diseases and increasing adoption of artificial insemination techniques. According to the journal “Animals”, 2017, around 67% of mares were inseminated in the Europe. The presence of skilled professionals in association with artificial breeding is also important. According to EuroStat, there are around 214,000 professionals related to veterinary.
Furtheremore, the increasing venereal diseases, such as avian influencza (H5N1), are expected to be a key influencing factor in this segment. According to the report of “Global Animal Disease Intelligence Report”, 2016, in Central Europe, around 1,480 domestic poultry was found to be infected with avian influenza (H5N1). Therefore, these factors are epected to drive the need for artificial mating, and thereby, expected to influence positively on the veterinary artificial insemiantion market.
Asia-Pacific is Expected to Witness a Significant Growth in the Market During the Forecast Period
Asia-Pacific is expected to witness rapid growth in the global veterinary artificial insemination market, due to the growing venereal diseases in animals and increasing awareness about artificial insemination among people. Avian influenza is a type of transmitting disorder, which is usually caused by avian influenza type A virus. According to the study of “Global Animal Disease Intelligence Report”, in 2016, the number of cases in domestic poultry in the western Asian region with avian influenza (H5N1) was found to be approximately 565,448. Furthermore, the growing demand for products related to fishery and animal husbandry is expected to drive the veterinary artificial insemination market. According to the National Statistics of Bureau, in 2017, produced over 3148.6 per 10,000 tons of milk. Hence the aforementioned factors are expected to fuel the market growth in this region.is
The market studied is moderately competitive, with the presence of, both, international and local companies. Some of the companies in the Veterinary Artificial Insemination market areBovine Elite LLC, KRUUSE, Agtech Inc., IMV Technologies, Tek-Event, Zoetis, Neogen Corporation, National Meditek, and Iherdsman.
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